Former students or defaulting beneficiaries of student loans not paying back will be listed on TransUnion’s Credit
Reference Bureau.
Higher Education Loans and Scholarships Board (HELSB) has announced that it will list all beneficiaries of student loans on the TransUnion’s Credirect Bureau.
HELB wrote;
Its part of its mandate is to
recover student loans and mobilise financial resources to support more vulnerable
students pursuing tertiary education.
Government, through HELSB, has been requesting all those who studied at the University of Zambia (UNZA) and Copperbelt University(CBU) from 2004 under
Government sponsorship, to pay back their student loans.
Only 16,000 beneficiaries
out of 69,000 have been serving their student loans.
HELSB wishes to inform all the student loan beneficiaries defaulting, as per our Act, that
we will be listing all defaulting beneficiaries of the student loan on TransUnion’s Credit Reference Bureau.
This action will result in:
● Impact on individuals’ credit scores.
● Loss of borrowing privileges, and
● Difficulty in obtaining future credit
We encourage all student loan beneficiaries, yet to start servicing their student loans,to contact us for your balances and repayment plans.
Contact us on recoveries@helsb.gov.zm or 0770901243, to discuss payment options and avoid further potential repercussions.
‘All actions taken are in accordance with applicable laws and regulations.
